Mathematics · Simple Interest
Sumit lent Rs. 5000 to Ram for 2 years and Rs. 8000 to Mayur for 3 years on simple interest at the same rate of interest and received Rs. 1700 in total from both of them as interest. What is the rate of interest per annum?
- 18% per annum
- 210% per annum
- 35% per annum✓
- 44% per annum
Correct answer
5% per annum
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